Ref: CS/Fin-0079/2022 April 4, 2022
The General Manager
Pakistan Stock Exchange Limited Stock Exchange Building,
Stock Exchange Road, Karachi
Director/HOD Company Law Division
Securities & Exchange Commission of Pakistan NIC Building, Jinnah Avenue, Blue Area, Islamabad
Executive Director/HOD
Offsite-II Department, Supervision Division Securities & Exchange Commission of Pakistan NIC Building, Jinnah Avenue, Blue Area, Islamabad
Dear Sirs
Sub: Disclosure of Price Sensitive Information - Investment by IGI Investments (Pvt.) Limited, wholly owned subsidiary in Milvik Mobile Pakistan Limited
In accordance with Sections 96 and 131 of the Securities Act, 2015 and Regulation 5.6.1 of the Rulebook of the Pakistan Stock Exchange Limited, we wish to inform you the following:
IGI Investments (Private) Limited ("IGI Investments") is a 100% wholly owned subsidiary of IGI Holdings Limited ("Company"). We have been informed by IGI Investments that its Board of Directors has approved to acquire upto 20% equity stake in Milvik Mobile Pakistan Limited subject to due diligence, completion of applicable corporate and regulatory approvals and execution of transaction agreements ("Transaction"). The Transaction will be executed in multiple tranches upon fulfillment of certain conditions.
Milvik Mobile Pakistan Limited is a company engaged in the business of providing consumers with microinsurance products and digital health services and is currently a 100% wholly owned subsidiary of Milvik AB in Pakistan.
A disclosure form as required under S,R.O. 143/(1)/2012 dated December 05, 2012 read with Sections 96 and 131 of the Securities Act, 2015 is also enclosed as Annexure A hereto.
You are requested to disseminate the information to the Members of the Exchange accordingly.
Yours Sincerely,
IGI HOLDINGS LIMITED
__________________
Nadia Hussain
Company Secretary
Annexure A
DISCLOSURE FORM
IN TERMS OF SECTIONS 96 AND 131 OF THE SECURITIES ACT, 2015
Name of Company: | IGI Holdings Limited |
Date of Report: | April 04, 2022 |
Name of Company as | |
specified in its Memorandum: | IGI Holdings Limited. |
Company's registered office: | [7th Floor, The Forum, Suite 701-713, G-20, Block 9, |
Khayaban-e-Jami, Clifton, Karachi - 75600, Pakistan] |
Contact information: Tel: [+(92)-111-234-234]. Fax: [+(92-21) 111-567-567]
Disclosure of price sensitive / inside information by listed company in terms of Section 96 and 131:
IGI Investments (Private) Limited ("IGI Investments") is a 100% wholly owned subsidiary of IGI Holdings Limited ("Company"). We have been informed by IGI Investments that its Board of Directors has approved to acquire upto 20% equity stake in Milvik Mobile Pakistan Limited subject to due diligence, completion of applicable corporate and regulatory approvals and execution of transaction agreements ("Transaction"). The Transaction will be executed in multiple tranches upon fulfillment of certain conditions.
Milvik Mobile Pakistan Limited is a company engaged in the business of providing consumers with microinsurance products and digital health services and is currently a 100% wholly owned subsidiary of Milvik AB in Pakistan.
Pursuant to the requirements of the Securities Act, 2015, the Company has duly caused this form/statement to be signed on its behalf by the undersigned hereunto duly authorized.
For and on behalf of
IGI HOLDINGS LIMITED
__________________ Nadia Hussain COMPANY SECRETARY
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IGI Holdings Ltd. published this content on 04 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 April 2022 08:13:07 UTC.